New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-03-29
CLOSING PRICES or PifLAOsLPHiI srOOSS


MONDAY March 29-P. NJ
The annual report Of the Union Pacific Railway Com
pany year ended December 81 1885, IL the equal
in completeness OF detail of operations and statistical
Information OF that made for the preceding Pres
dent Adams IN his remarks again deyoes much space to
the relations OF the company with the general govern
ment and he deprecaes the delay OF Congress IN arfv
ing definite AMI final adjustment OF those rela-
TONS In letter addressed to Senator EdmuDds under
OF June s. 1856. Mr. Adams. after some comment
upon the delays which had already occurred. and sub
hitting that after the numerous investigations OF the
company which had occurred further inquiry was I'M
called for, says:
81 desire to say that greater boon could be con-
ferred upon Union Pacific than some Investigation
which would DO received final and which would bring
to an end these ircessant and injurious attacks
Unfortunately there Is reason 10 believe that
DO investigation would have that result, inasmnch
these attacks though made through Congress- do not
originate In Congress- They originate in another aud
we'll nnder re- God quarter. The financial standing
OF the Union Pacific h at present gravcy impaired by the
fact that charges of tho nature OF those above
ferred have been made in responsible quarters, and
that Investigations supposed to Inc impending fnd
myself unable therefore, while this Is the case, to con-
duct the business OF the company on ordinary business
principles. We owe tho Government large sums OF
money. We most anxious TO pay those sums; bat.
through the process OF which the above resolutions or
necessarily greatly impaired ! submit that this Is
neither business nor iu, tice"
To Representative Tucker under date OF July
%, 1886. after urging speedy passage OF
the then pending resolutions for in"estiga-
ton, Mr.. Adams writes: L" The present uncertain
attitude is gravey prcjudcing interest. and those of
the Gooernme,d. IL hardly needs 10 be said that
uncertainty its financial relations Is the worst possible
condition which large company be placed" Tho
president tells the stockholders that tho time has
when instead Of longer waiting for Congress TO formulate
some plan OF adjustment the company must itself bring
forward some proposal for a settlement and that that
proposal must which shalt generally commend IT.
sell by it's manifest fairness and berality That legally
and oquitably the Government has present
claim under the original contract upon the income and
OF the company than other creditor whose
debt due. The company has denied It's liza
blty when the debt becomes due and II then II is unable
its obligations the penalty is set down in the
bond Nevertheless, the Thurman Act aud the dc
cision Of tho Supreme Court has rendered
necessary a adjustment, and your directors
propose to meet Commissioners appointed under the
recent action OF Congress with distinct aud final pro-
posal for rea1justment OF financial relations which
shall be final the arst proposal OF the kind which has
emanated from the company" Attention Is directed 10
the fact that although the earn KS OF tho wholc
system in 1886 $929,i23 more than In 1885 the
sinking fund requirements OF the United States
1876 less because as IL explained Tho Government
requirements under the Thurman Act being fixed 20
per OF the net earnings OF certain OF the aided lines
and earnings Of those aided lines were TO very
great dependent the profits derived from the
ranscontinental traffic. II will be remembered that the
Government claimed that the subsidy paid to the Pacific
Mail Steamship Company through which rates
maintained Improperly deducted from the gross
receipts OF the company In asoortaining
the transcontnenal traffic went 10 pieces In March.
1886. the 20 per cent due the Government CORE
sponingy redncedby the SUN before named IT. would
thus appear that the Government OF the United states
interest In the maintenance OF the subsidy ar
rangement with the Pacific Mail scarcely loss than the
railroad companies Themselves
The miles OF road operated IN the whole system at the
of 1856 nlnetytwO miles greater than at the end
OF 1888 The gross earnings show gain OF S6SOOOO.
but the net earuin loss OF 100000 The operating
expenses of Union Pacific proper 81 80 900
greater than In 1855. owing TO extraordinary ekpendi
Of the anSiIisry lines for the same reason were
Increased $2ls.Oo0 Tho nrst charges Of the whole
requirements OF the United States, hence the net
profits from the operations OF the whole system were
1910 600 greater 1885 To that increase II to liza
aided further increase OF 5000 400 received from tho
trustees OF Kansas City consolidated mortgage on in
Year applicable to diyidonds sS74sSes equal 10 Gi5
per cent tho capital stock OF the COMPANY Inc ,o
penses and net earnings OF the Union Pacific and aux
three years:
BUSINESS THREE YEARS.
Years ended Dec III 1884 1885. 1896.
sa%ss:
Expenses. taIes u sss95. sooSos5; sio2ss.25
~ S072oes 7lo7sGs 7sa5.Ioi
Total expenses of system @ sioi5772i sI7cosGi9
earnings Union Pac. SSotlYl0 sSt0tbI7 s622 s0t
Net earnings aoAy Inca l.s4I2O5 l5eZ,'H La'24U
Ne, rom ras ssss 'sS S S ~
Total net income 81 .2G9b2I siI $50 sos sIoG7o4s3
Fir.t eharsss. ssSs672 8oiGoi7 soS77io
u.,.... az a2g s4o AZ ga OIL AZ GAY 7as
deceived interest froml $780,. $1,000.
trustees Of Consolid'df G40,%l3 2OTli0 l.ll36OO
Kansas Pacific bonds
Surplus for year. . saO79yGi s255i.i9l s37i6ses
Tho traffic OF tho sysiein and the earnings from
through and local business for three years weie as fo
lows:
1884. 1855. 1856
Local passengers car 80. - us 80, .oo ,.a
inlo- 4,6SS 100 l2S65,<O5 lo7,sooo3S
carried one nils. 7l.Ieab35 eo45g.ss5 eo.722.i72
Gao mile -. lsS79L7S5 lse07l.9sl 2&s 90
one mile GO6, 99s 40 7ss 797,27s4s5
ous mile sig2TT.2Cs 2so2i.I77 si6.s2i.sG7
Total tons one mile o22 40 ess 9os7iiI7i IIlI02s52
Esrnnss Of local bust .oo
Kar"ass 81 through ~
business 7.xo2.S5l b,se9.zzi e'oSf,Soo
-. ssd irsss u s22,7Ooss1 s2asso4As sas.saasss